Overview
- The Series A values Parallel Web Systems at $740 million and was co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other backers reported to include Spark Capital, First Round Capital and Terrain.
- Parallel builds APIs that let AI agents search the live web and return optimized content tokens directly into model context windows to boost accuracy and cut operating costs.
- Enterprise users employ the system for tasks such as writing software code, analyzing sales data for go-to-market teams and assessing insurance underwriting risk.
- New capital will scale engineering and sales efforts and target growing barriers to AI access posed by paywalls and login-protected content.
- The company says it is developing an “open market mechanism” to compensate content owners, with details yet to be disclosed; products publicly launched in August 2025 after a $30 million raise in January 2024.